I'm not a lawyer, but bids are just that--bids!
A contract enforceable in a court of law requires a bit more than a bid. Tort cases are awash with tears.
To be enforceable, a contract needs a willing seller and a willing buyer meeting at arm's length, an agreement to complete a transaction (that is, what is to be sold and what is to be bought), AND and exchange of valuable consideration. Until that happens, there is no contract that a court of law can enforce or make whole (by awarding damages under the contract). Until all the legal parts of a contract are done, either party can walk away.
If the contract is not completed, one, or both, parties may claim to have been "damaged" and seek restitution for that, as a result of failure to complete the contract, but obtaining damages for a tort on a small ticket item is rare.
Your hopes and desires may have been dashed, but you have not been damaged, yet. And you do not appear to have caused the seller damage (other than, perhaps, to his good reputation as a vendor on E-bay).
What did the seller want viz. a. viz. consideration? Did you both agree on a cash transaction face to face?
If you had escrowed payment through Pay Pal or mailed him a check for $1.00, which he subsequently cashed, you might get a lawyer (for several hundred more smackeroos) to take the case, but don't end up bein' a dog chasin' yer tail.
The old marketplace maxim Caveat Emptor speaks volumes--not only to you, but to the court.
